Demat account for seafarer nri or residential??
tushar
(Querist) 26 October 2012
This query is : Resolved
sir/madam,
i am holding residential demat account and now joined shipping profession
i mean am seafarer now.i am not staying in any country for 5-6 days per month.
My income source is from abroad.and stay outside india for more than 182 days.
ship visits lot of country. am holding indian passport.
In past i opened demat account (residential).
Is there need to close present residential Demat account and open NRI Demat account if i continue in profession at sea??
please guide,
tushar
ajay sethi
(Expert) 26 October 2012
you can close your resident demat account and open a new NRI demat account . however you would not be able to redeem the units held till new NRI I Direct Account is opened and are transferred to NONPINS NRO Account.
contact your bank . they will help you with the procedure
